I’ve Been Injured in a Car Accident – What’s My Case Worth?
Judging the value of your case is a complicated procedure that involves a variety of factors. Your case evaluation will generally consider the two sources of damages: Compensatory Damages and Punitive Damages.
1. Compensatory Damages
Compensatory damages are paid to compensate the claimant for actual damages suffered from the incident. Actual damages are sub-divided into two categories: Economic Damages and Non-Economic Damages. Economic damages are damages for which a monetary amount has already been assigned, for example, medical bills, damaged property, and lost wages. Non-economic damages are essentially non-monetary damages, such as pain and suffering, physical deformities, and a loss in the claimant’s quality of life.
2. Punitive Damages
Punitive damages are intended to reform the actor and deter him from committing the same incident again. While punitive damages are not intended to compensate the claimant, the claimant may receive all or a portion of the damages award.